A C A S E S T U D Y
How crucial is it to work with an agent that is well-connected and deeply rooted in the area they represent?
Read on to find out how listing as a Private Exclusive is the way to win in a low-inventory market for the buyer and seller.
Our clients were ready to sell! However, they valued their privacy and did not want to deal with the foot traffic that would come with the routine listing process. They were also wanting to test an aggressive price in the market before going active if it got to the point of hitting the market at all. We decided the best route for our sellers would be to list as a Private Exclusive.
Listing a home off-market or in this case as a Compass Private Exclusive means that the property is listed by a Compass agent and only shown to other Compass agents and their clients.
This approach provides us with a way to test the inside market and get feedback from other agents that we trust. A Private Exclusive listing cannot be marketed anywhere publicly. They are not available anywhere online, a huge advantage in this market.
These listings get twice the views as other listings, as well as views from agents that are top-notch professionals in their class - these agents are vetted, trusted and would not be a part of Compass as a whole otherwise.
Once listed in the Compass platform, we were able to provide Marketing Reports to our sellers on a regular basis to show them the traction their home was receiving. Soon after the home was listed as a Private Exclusive, our listing agent and team lead, Gretchen reached out to a fellow Compass agent and friend, Linda Trevor to see if her clients would be interested!
It was an immediate match. Our sellers were thrilled with the number they came in at and we were able to help Linda's clients find exactly what they were looking for, all before the gorgeous home ever hit the market! Although on separate teams, Gretchen and Linda work together in other groups and under the same Compass umbrella. In turn, they are committed and all for playing matchmaker for each other's clients. What is better than one win? Two. Click the video to see a sneak peek into the process!
Keep reading to find out how off-markets and Private Exclusive listings are key to winning in this low-inventory market for both buyers and sellers, why it's essential to work with a well-connected agent, and watch a tour of this HOT home in Raleigh.
.png?w=851)
The off-market sale is great for a buyer, and sometimes can be perceived as not great for the seller.
However, all sellers have different motivations. Some want their privacy, like our clients did.
Some sellers don't want strangers walking through their home, they want more control over the process.
Other sellers want to test an aggressive price before going to market.
All perfect reasons for listing as a Compass Private Exclusive. Our clients had a "high-five" number, a number that would make them high-five us all the way to the bank! That is the number we got.
.jpg?w=851)
In this market, getting in on an off-market or Private Exclusive listing is a great opportunity.
The buyer trusts that the agent is giving them helpful and early information about the property, which heightens the feeling of exclusivity that the buyer is feeling and getting. With a competent agent, a Private Exclusive listing or off-market is a great way for a buyer to get their foot in the door with professionals that can make it happen.
In a low-inventory market, to be able to get an off-market and NOT have to go to bidding wars or anything else to the extent that we are seeing in this market, is wonderful.
Typically, a buyer has a price they're willing to pay for a house, and a seller has a price they're willing to take. If professionals can broker that transaction, it's a win-win for everyone.
It doesn't mean that is exactly the price they had to meet. There was still time for conversation, and they didn't have the added pressure of multiple offers.
One of the things we pride ourselves on is the relationships we have with other agents, the collaboration. Relationships matter right now more than ever. It is so critical to be able to pick up the phone, to be able to speak to someone, to be able to trust someone.
A well-connected agent is your best friend in this market. if you don't have that relationship, it is difficult to get your foot in the door, to get a call back right now. An agent with a listing that has 30 offers on the table, they don't have time to call everyone back.
Working with an agent that is deeply rooted in the real estate world gives you the benefit and the relief that is much needed, knowing that there is trust established between your agent and a number of others, as well as being able to trust that your agent is going to help you win. Experience and networking create that segway into negotiation and insight.
Gretchen Coley and Linda Trevor are both Compass agents on separate teams. By working together, they were able to help both sides of the transaction experience success, seamlessly and promptly.
If you are a buyer or seller trying to navigate this tricky market in Raleigh, we are here to help. Give us a call at 919.526.0401 or reach out to us today!
.jpg?w=851)
